Fed funds highest rate, 2023 (additional strikes)?
Fed funds highest rate, 2023 (additional strikes)?
5.25% or below
Highest upper bound
No
5.25% or below
Highest upper bound
No
5.26% to 5.50%
Highest upper bound
Yes
5.26% to 5.50%
Highest upper bound
Yes
5.51% to 5.75%
Highest upper bound
No
5.51% to 5.75%
Highest upper bound
No
5.76% or above
Highest upper bound
No
5.76% or above
Highest upper bound
No
Market Rules
5.25% or below
Resolves Yes if the maximum upper bounds of the Federal Reserve target federal funds range is below 5.26%.Outcome verified from Federal Reserve.
Please note that this market will close at 11:59 PM ET on Dec 31, 2023. It will not close early even if the Federal Reserve stops hiking or starts cutting.
IMPORTANT CHANGE FROM PREVIOUS TERMINALRATE MARKET: For this market, the bounds of the brackets are slightly changed. In the previous market, they included the traditional upper bound (a rate ending in .00 or .25) as the first part of the range. Here, they are the second part of the range. E.g., 6.01-6.25 instead of 6.00-6.24.
Timeline and payout
Market openAug 2, 2023 · 3:00pm EDT
Market closedDec 31, 2023 · 11:59pm EST
Paid outJan 1, 2024 · 11:00am EST
SeriesKXTERMINALRATE
EventTERMINALRATE-23DEC31B
MarketTERMINALRATE-23DEC31B-T5.26
Insider trading is prohibited
The following are prohibited from trading this contract:
- Persons who are employed by any of the Source Agencies are not permitted to trade on the Contract.
- Persons who hold any material, non-public information on the Underlying are not permitted to trade on the Contract.